According to government data, Cupertino-based Apple accounted for 65%, or about $10 billion, of the country’s cellphone exports in the year analyzed.
According to the data, the country’s productive sector generated more than 1. 2 million jobs.
Data released by the Ministry of Commerce further revealed that exports of electronic devices increased by about 24% to $29. 12 billion in FY24.
iPhones caused a more than 35% increase in India’s mobile phone exports to a record $15 billion in FY24.
According to government data, Cupertino-based Apple accounted for 65 percent, or about $10 billion, of the country’s cellphone exports in the reporting year, double exports worth $5 billion. of dollars recorded last monetary year.
According to the data, the country’s cell production sector generated more than 1. 2 million jobs through the production of $50 billion worth of products in FY24, ET reported.
“We have been very lucky in the production of mobile phones,” IT Minister Ashwini Vaishnaw told the publication. According to the minister, the speed of expansion and exports are expected to increase as more global corporations start producing in the country.
Data released by the Ministry of Commerce further revealed that exports of electronic parts increased by about 24% to $29. 12 billion in FY24, up from $23. 55 billion in the last fiscal year.
The knowledge seems to be in line with the US smartphone maker’s goals and expansion plans in India. While Apple plans to diversify its production base given geopolitical tensions, its suppliers are also expanding their production sets in India.
In December last year, Apple reportedly planned to manufacture more than 50 million iPhones in India per year. According to media reports, the goal is to achieve this goal in the next two to three years.
This followed its supplier Foxconn injecting an additional INR 13,911 Cr into Karnataka, further strengthening the tech giant’s plan. Karnataka also approved 14 projects worth INR 34,115 Cr with the potential to generate 13,308 jobs in the state. Of these, 10 are new projects worth INR 19,452. 40 Cr, while the other 4 are additional projects with investments worth INR 14,662. 59 Cr, according to a statement.
In addition, Wistron’s iPhone production unit, acquired through Tata Group last year, is also thinking of producing soon.
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